Daily Technical Analysis – 7 December, 2017

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Daily Technical Analysis – 7 December, 2017

EUR/USD Intraday: capped by a negative trend line.
Pivot: 1.1815

Our preference: short positions below 1.1815 with targets at 1.1760 & 1.1735 in extension.

Alternative scenario: above 1.1815 look for further upside with 1.1830 & 1.1850 as targets.

Comment: the RSI shows downside momentum.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

USD/CHF Intraday: further advance.
Pivot: 0.9885

Our preference: long positions above 0.9885 with targets at 0.9940 & 0.9970 in extension.

Alternative scenario: below 0.9885 look for further downside with 0.9855 & 0.9835 as targets.

Comment: the RSI shows upside momentum.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

USD/JPY Intraday: further upside.
Pivot: 112.25

Our preference: long positions above 112.25 with targets at 112.85 & 113.10 in extension.

Alternative scenario: below 112.25 look for further downside with 112.00 & 111.80 as targets.

Comment: the RSI is bullish and calls for further upside.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

GBP/USD Intraday: the downside prevails.
Pivot: 1.3410

Our preference: short positions below 1.3410 with targets at 1.3320 & 1.3280 in extension.

Alternative scenario: above 1.3410 look for further upside with 1.3455 & 1.3480 as targets.

Comment: the RSI shows downside momentum.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced


AUD/USD Intraday: the downside prevails.
Pivot: 0.7555

Our preference: short positions below 0.7555 with targets at 0.7500 & 0.7475 in extension.

Alternative scenario: above 0.7555 look for further upside with 0.7570 & 0.7590 as targets.

Comment: the RSI shows downside momentum.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced


USD/CAD Intraday: further upside.
Pivot: 1.2775

Our preference: long positions above 1.2775 with targets at 1.2845 & 1.2880 in extension.

Alternative scenario: below 1.2775 look for further downside with 1.2725 & 1.2680 as targets.

Comment: the RSI shows upside momentum.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced


Gold spot Intraday: under pressure.
Pivot: 1265.00

Our preference: short positions below 1265.00 with targets at 1251.00 & 1245.00 in extension.

Alternative scenario: above 1265.00 look for further upside with 1272.50 & 1278.00 as targets.

Comment: as long as 1265.00 is resistance, likely decline to 1251.00.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

Crude Oil (WTI) (F8) Intraday: the downside prevails.
Pivot: 56.65

Our preference: short positions below 56.65 with targets at 55.50 & 55.20 in extension.

Alternative scenario: above 56.65 look for further upside with 57.05 & 57.60 as targets.

Comment: as long as 56.65 is resistance, likely decline to 55.50.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

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